- A Chinese trader informed SSESSMENTS.COM on the latest offers for PE cargoes in the local and import market; reportedly the prices in both markets are moving in the same pattern. In the local market, spot offers for HDPE Film, LDPE Film, and LLDPE Film C4 recorded down by CNY100/ton ($14/ton) as compared to last Friday’s levels. From imports, the offers for Middle Eastern cargoes for the same grades also slipped between $5-10/ton compared to the same period. Demand-wise, the trader stated that most converters are currently still procuring on a hand-to-mouth basis even though the sales for finished products have gradually improved week over week, as proved that the China market has almost fully recovered. However, the oversupply is still haunting the domestic market, hence, the uptrend in prices last week could not sustain. In the days to come, if there is no stimulus that could support the market, the trader believes that the movement of PE prices would just follow the current market trend.
- On the other side, another trader revealed to SSESSMENTS.COM that the current offers for local PE cargoes from the company’s end have been adjusted in a diverse movement. For HDPE Film, the trader raised the offers by CNY100/ton ($14/ton). On the contrary, the trader’s offers for LDPE Film lowered by CNY150/ton ($21/ton). Meanwhile, for LLDPE Film C4, the trader decided to maintain the offers stable. All changes compared to last Friday’s levels.
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